Oil production starts at third FPSO unit off the shore of Brazil

By Vessels

In July, a third floating production, storage, and offloading (FPSO) unit deployed by NYK for the BM-S-11 consortium through a joint venture company started oil production in a pre-salt area off Brazil, the company said in its press release.

This FPSO unit, FPSO Cidade de Saquarema, is owned by a shareholder consortium comprising SBM Offshore N.V. (Netherlands), Queiroz Galvão Óleo e Gás S.A. (Brazil), and a joint venture company between NYK and the Mitsubishi Corporation (51.28 percent; head office: Tokyo; president & CEO: Takehiko Kakiuchi). The joint venture has a 20-year time charter contract with Petroleo Brasileiro S.A. (Petrobras) to operate the FPSO.

Oil production starts at third FPSO unit off the shore of Brazil

FPSO Cidade de Saquarema - Image courtesy: SBM Offshore

NYK will aim to further advance its expertise in the FPSO business by dispatching technical staff to this project as well as FPSO Cidade de Paraty.

In accordance with its “More Than Shipping 2018” medium-term management plan, NYK will continue to make use of its extensive technical know-how to expand and develop its business in the offshore industry, which is expected to grow remarkably.

Outline of FPSO
Oil processing capacity                150,000 barrels of oil per day
Gas processing capacity               6 million cubic meters per day
Oil storage capacity                  1.6 million barrels
Water injection capabilities           200,000 barrels per day
Mooring type                                 Spread mooring

Source: NYK